Item Liability Current or noncurrent Explanation

liability, or potentially

both?

$1.$ Accounts payable

$2.$ Warranties payable

$3.$ Deposits

$4.$ Bank overdraft

$5.$ Sales tax payable

$6.$ Bank loan maturing in five years was

in default during the year; before year$-$

end, the lender grants a grace period

that extends $12$ months after the

balance sheet date.

$7.$ Five$-$year term loan; amortized

payments are payable annually

$8.$ Unearned revenue

$9.$ Lease liability

$10.$ HST payable

$11.90-$day bank loan

$12.$ Bond payable that matures in two

years

$13.$ Obligation under customer

loyalty plan $($customer$\text{'}$s discretion as to when to redeem$).$

$14.$ Income taxes payable

$15.$ Bank loan that matures in five years

that is currently in default

$16.$ Three$-$year bank loan that matures six

months after the balance sheet date